United reaches tentative deal with IAM on cost cuts

United Airlines appears to have avoided potentially crippling strike action after reaching an agreement in principle on a new contract with 20,000 ramp agents and customer contact employees represented by the International Assn. of Machinists.
Terms of the deal were not released, but it is believed that the airline was seeking $180 million in annual savings from the group. A formal agreement is expected to be presented to the US Bankruptcy Court on June 17. The accord was reached shortly ...